Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

The currency pair has completed a wave of decline to 1.0760. Today the market is forming a consolidation range above this level. If the price breaks it downwards, the range could extend to 1.0703. And if the price escapes the range upwards, a correction to 1.0900 could begin. Next, a decline to 1.0700 is expected.

GBP/USD, “Great Britain Pound vs US Dollar”

The currency pair has completed a wave of decline to 1.2400. Today the market is forming a consolidation range around this level. With an escape from it upwards, a correction to 1.2550 could start. If the price breaks the range downwards, the wave might continue to 1.2350.

USD/JPY, “US Dollar vs Japanese Yen”

The currency pair has completed a wave of growth to 138.72. Today the market is forming a consolidation range under this level. With an escape from the range downwards, a correction to 137.40 could start, from where the wave could continue to 136.10.

USD/CHF, “US Dollar vs Swiss Franc”

The currency pair has reached a local goal of a wave of growth at 0.9054. The market is consolidating around this level today. With an escape from the range upwards, the wave could continue to 0.9103. If the price breaks the range downwards, a correction to 0.8888 could start.

AUD/USD, “Australian Dollar vs US Dollar”

The currency pair has completed a wave of decline to 0.6606. Today the market is consolidating above this level. If the price breaks the range upwards, the potential for a correction to 0.6660 could open. If the price breaks the range downwards, the latter might extend to 0.6595. Next, growth to 0.6700 could follow.

Brent

Brent has completed a correction to 74.45. Today the market is forming a structure of growth to 77.40. This is the first target. After the price reaches this level, a correction to 76.00 could follow. Next, an increase to 80.50 is expected, from where the trend might continue to 85.00.

XAU/USD, “Gold vs US Dollar”

Gold has completed a wave of decline to 1952.00. Today the market is forming a consolidation range above this level. The range might extend to 1965.65. If the price breaks it downwards, a link of decline to 1945.60 is not excluded. With an escape upwards, a correction to 2012.00 could begin. Next, a decline to 1900.00 could follow.

S&P 500

The stock index formed a consolidation range around 4161.5. Breaking it upwards today, the price reached 4210.0. A link of correction to 4161.5 is expected. Next, a link of growth to 4215.5 is expected, followed by a decline to 4050.0.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

AUD/USD flirts with 0.7000, lowest since early August amid bullish USD

AUD/USD hits a fresh low since early August during the Asian session on Friday and looks vulnerable near 0.7000 after breaking below the 200-day SMA overnight. Against the backdrop of the hawkish Fed, a two-day rally in oil prices revives inflation fears and continues to push US bond yields to multi-year highs. Adding to this, geopolitical risks lift the US Dollar to a two-month high, overshadowing RBA rate hike bets and weighing on the pair.

USD/JPY pulls back from three-week high after failing near 159.00

USD/JPY edges lower during the Asian session on Friday, stalling its recent strong move to a three-week high of 159.00 as Japanese Yen bears turn cautious amid intervention fears. Meanwhile, the US Dollar retains a strong bullish undertone as the Fed's hawkish outlook and oil-driven inflation fears continue to push US bond yields to multi-year peaks. Furthermore, the BoJ's dovish rate hike last week might cap JPY and support spot prices.

Gold treads water below $4,300

Gold grabs some buying attention and advances marginally at the end of the week, partially retracing the weekly decline, although it is still navigating below the key $4,300 mark per troy ounce. The fresh selling bias on the Greenback and the modest decline in US Treasury yields appear to support the humble advance in the precious metal.

Crypto Today: Bitcoin and Ethereum edge lower, XRP extends recovery as macro headwinds weigh

The broader cryptocurrency market is consolidating on Friday, with Bitcoin paring losses slightly above $84,000. Ethereum declines in tandem with BTC. Ripple (XRP), meanwhile, paints a different picture.

Fed vs BoJ: Both hiked. The market only believes one of them – and the chart shows which

The Federal Reserve (Fed) and the Bank of Japan (BoJ) have just done something remarkably similar. Both central banks raised interest rates by 25 basis points (bps) last week, both are confronting inflation risks, and both signal that future decisions will depend on incoming economic data.

Fed vs BoJ: Both hiked. The market only believes one of them – and the chart shows which

The Fed and the BoJ have just done something remarkably similar. Both central banks raised interest rates by 25 bps last week, both are confronting inflation risks, and both signal that future decisions will depend on incoming economic data.